Accounts payables with SharePoint and Nintex
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Transcript of Accounts payables with SharePoint and Nintex
December 10, 2015
Using SharePoint & Nintex for Accounts
Payable (AP) Processes
WEBINAR
IT Solutions from Business Experts
ACTS is a Florida-based IT solution provider working with businesses to leverage technology for competitive advantage and market share growth
With work grounded in a business outcome methodology, ACTS has been helping clients (from regional SMBs to global Fortune 500 enterprises) drive better business outcomes for more than 15 years
IT Solutions from Business Experts
About the Presenter:
Miranda Davis
Business Development/Solution Consultant
SharePoint SME and Power User
Industry Trends Best-In-Class Companies Automated AP Process Advantages AP Process
Scan/OCR Invoices with Purchase Order (PO) Invoices without Purchase Order (Non-PO)
Demonstration Why Use ACTS? Questions
Agenda
Manual processing of paper invoices is cumbersome and costly In a manual environment
Suppliers have no visibility Finance has difficultly managing the company’s cash position Penalties are often incurred and discount opportunities can be missed
The industry average for AP processing is 9.7 days at an average cost per invoice of $15.61.*
With automation services provided, ACTS improve your AP model to under 4 days to process and drop costs below $4 per invoice!
Industry Trends for AP
Stats provide by:*An AberdeenGroup Consulting study conducted in the spring of 2011
Surveys show that firms employing Best-In-Class performance shared several common characteristics which are all features of the ACTS AP Solution Accelerator:
Best in class companies are: 2.4 times as likely to have invoices archived in a central, searchable
location* 1.9 times as likely to have automated matching of invoices to purchase
orders* 4.1 times as likely to have automated dashboards summarizing current
AP status and performance*
Best-In-Class Companies
Stats provide by:*An AberdeenGroup Consulting study conducted in the spring of 2011
Why Automate AP with Scan/OCR and SharePoint?• Scanning invoices provides the opportunity to use OCR technology, extract data and drive
automation in the AP process• Using Smart Capture we can pull relevant data to complete previously all manual tasks such as:
• Auto route invoices to appropriate groups for GL coding OR automate completely via vendor tables
• Auto route invoices for approval using approver tables OR automate completely by using approval rules
• Auto compare Invoices with Purchase Orders and Receipts, for an automated 2 or 3 way match resulting in AP staff only handling exceptions
• Auto route approved invoices to AP staff for entry into the accounting system OR automate data entry completely with web services
• With SharePoint and Nintex we can use Forms and Workflow to automate the AP process either via workflow to streamline the process or eliminate all manual intervention depending on a companies level of complexity and tolerances
Automated AP Process Advantages
The first step: Centralize and scan all invoices• Scanning invoices provides the opportunity to use OCR
technology, extract data and drive automation in the AP process
• Using Smart Capture we can pull relevant data to direct work or complete tasks, as well as, aid in driving which workflow is invoked• PO, Non-PO, special handling routing for vendor specific
requirements or credit memos
AP Process – Scan/OCR
Invoice Processing• Nintex workflow can evaluate the data provided and determine the path for
the invoice to travel by using rules and algorithms • Invoices with Purchase Orders can be reconciled in an automated fashion
against data retrieved from the accounting system using • 3 way match • 2 way match
AP Process – Invoices with Purchase Orders (PO)
Invoice Processing• Invoices without a Purchase Order can be routed via workflow based various
options, including:• Vendor Name or ID
• And using a Vendor Table, for example we can • route invoices to appropriate groups for GL coding and initial review• OR we can automate the GL coding process by pulling it from the vendor table
• Once appropriately reviewed and coded workflow can • route invoices for approval using approver tables• OR approval can be completely automated by using automated approval rules
(For example: Setting limits for the amount of the invoice or a using 12 month history comparison)
AP Process – Invoices without Purchase Orders (Non-PO)
Reduce the amount of time users spend performing tasks
Remove bottlenecks and minimize manual actions Easily deal with high volumes of requests Maintain visibility
Making End Users Productive
Automated Accounts Payable Process Work Queues
Exceptions Coders/Processors Approvals
Tables Nintex Forms and
Workflows Dashboards
Excel Services Power BI
Demonstration
Using the BOM, ACTS identifies the pain points and areas of opportunity to automate
Using SharePoint and Nintex to create an automated solution customized to your organizations practices and policies
Implement a SharePoint-based solution that enables you to
Leverage the collaboration platform everyone is using to surface line-of-business (LOB) data
Make data-driven decisions with confidence,
Manage risk and compliance across SharePoint and Exchange, and
Boost Return On Investment (ROI)
How ACTS Can Help Your Business
The following AP Best Practices will be employed with our solution: We help you Use Technology We help you pay within your
Vendors Payment Schedules We help you Reduce required
approvals and Improve processing time
We help you Use Automation for Approval of Repetitive Non-PO Invoices
We help you by providing AP experts to help you process your invoices
Join us in 2016 for more training and demos!
(904) [email protected]
Thank You!Our offer to you: One FREE hour of consulting and/or one
FREE hour of one-on-one training for the workflow configuration
Nintex Free Trial (need to contact ACTS)